UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): ~~April~~October 715, 2025

WESTERN MIDSTREAM OPERATING, LP

(Exact name of registrant as specified in its charter)

Delaware

001-34046

26-1075808

(State or other jurisdiction
of incorporation or organization)

(Commission
File Number)

(IRS Employer
Identification No.)

9950 Woodloch Forest Drive, Suite 2800

The Woodlands, Texas 77380

(Address of principal executive office) (Zip Code)

(346) 786-5000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol

Name of exchange
on which registered

None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 18.01. ~~Entry~~Other ~~Into a Material Definitive Agreement~~Events.

OnAssumption ~~April 7, 2025, Western Midstream Operating, LP (the “Partnership”), a subsidiary~~ of ~~Western~~Aris ~~Midstream~~Notes Partners, LP (“WES”), obtained a written consent (the “Consent”) of certain lenders to its senior unsecured revolving credit agreement (the “RCF”) pursuant to Section 2.24 of the RCF consenting to the extension of the maturity date, applicable to the loans and commitments of such lenders totaling $1,880 million, from April 6, 2029 to April 6, 2030. The Consent exercised the second (and final) extension option provided pursuant to Section 2.24 of the RCF.

AsFollowing the consummation of ~~April~~the 7Mergers (as defined in that certain Agreement and Plan of Merger, dated as of August 6, 2025, ~~there~~by ~~were~~and noamong ~~borrowings~~Western orMidstream ~~letters~~Partners, ofLP, ~~credit~~Aris Water Solutions, Inc., Arrakis OpCo Merger Sub LLC, Arrakis Holdings Inc., Arrakis Unit Merger Sub LLC, Arrakis Cash Merger Sub LLC, and Aris Water Holdings, LLC (“Aris OpCo”)), Aris OpCo’s 7.250% Senior Notes due 2030 (the “Aris Notes”) will remain outstanding onand the ~~RCF~~indenture governing the Aris Notes was assumed by Western Midstream Operating, LP (“WES OpCo”).

~~Relationships~~On October 15, 2025, WES OpCo entered into a supplemental indenture with Computershare Trust Company, N.A., as trustee (the “Trustee”), pursuant to which WES OpCo agreed to assume all of the obligations of Aris OpCo under that certain indenture, dated as of March 25, 2025 relating to the Aris Notes. The foregoing description of the supplemental indenture does not purport to be complete and is qualified in its entirety by reference to the supplemental indenture, which is attached hereto as Exhibit 4.1 and is incorporated by reference into this Item 8.01.

~~Certain~~Fourth ofAmended ~~the lenders under the RCF~~ and ~~their~~Restated ~~respective~~Agreement ~~affiliates~~of ~~have,~~Limited ~~from time to time, performed, and may in the future perform, various financial advisory, commercial, and investment banking services for the~~ Partnership ~~and WES, for which they received or may receive customary fees and expenses. Certain affiliates~~ of ~~such lenders have acted, and may in the future act, as underwriters of certain of the Partnership’s debt issuances and~~ WES’s ~~equity issuances.~~OpCo

~~Item~~Following ~~2.03.~~the ~~Creation~~consummation of athe ~~Direct~~Mergers, ~~Financial~~the ~~Obligation~~Third orAmended anand ~~Obligation~~Restated ~~under~~Agreement anof ~~Off-Balance~~Limited ~~Sheet~~Partnership ~~Arrangement~~of WES OpCo will be amended and restated to, among other things, provide for the issuance of apreferred ~~Registrant~~units of WES OpCo.

~~The information set forth under~~ Item 19.01 Financial ~~above~~Statements isand ~~incorporated herein by reference~~Exhibits.

(d) Exhibits.


4.1*						Supplemental Indenture, dated as of October 15, 2025, by and among Western Midstream Operating, LP and Computershare Trust Company, N.A., as Trustee.
104						Cover Page Interactive Data File.

* Filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

WESTERN MIDSTREAM OPERATING, LP

By:

Western Midstream Operating GP, LLC, its general partner

Dated:

~~April~~October 915, 2025

By:

/s/ Kristen S. Shults

Kristen S. ShultsSenior Vice President and Chief Financial Officer

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